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According to Caixin, Lu Moumou, CEO of a certain computing power technology company in Southwest China, was scammed out of over $9.4 million in the United States, approximately 60 million RMB. His mining pool reportedly once accounted for about 9% of the global Bitcoin hash rate at its peak. The report states that Lu Moumou was set up by two brothers claiming to be "Middle Eastern royalty." The older brother, claiming to be "Middle Eastern royal son-in-law," asserted that he controlled Middle Eastern family funds, international business relationships, and resources of local US governments; the younger brother, meanwhile, posed as a hedge fund manager by mimicking characters from the American TV series "Billions." The two also enlisted Michael Smedley, chief of staff to the mayor of East Cleveland, as an endorsement, luring Lu Moumou into signing a cryptocurrency mining farm development contract.